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money should have a expiration date too stop hoarders (lemmy.ml)
submitted 4 months ago by to c/showerthoughts@lemmy.world
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[–] 28 points 4 months ago* (last edited 4 months ago) (1 child)

And schools should have economics and personal finances as part of the curriculum.

Nobody is hoarding money. Scrooge McDuck is a bad caricature of a rich person - that's not how any of it works.

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  • [–] 1 point 4 months ago

    And schools should have economics and personal finances as part of the curriculum.

    the problem with this "common sense" approach is that it emphasizes and reinforces personal responsibility in a system that's rigged to take advantage of every human foible.

    I call this the "late-fee" fallacy. As in the idea that video store late fees are intended to encourage responsible behavior, not a revenue stream that the business relies on. Overdraft fees are another great example.

    Financial responsibility would ruin the economy.

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